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FAS update PSC Steering Committee meeting June 2011 - PowerPoint PPT Presentation


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FAS update PSC Steering Committee meeting June 2011. Progress to date. Maintain and develop the ISSAIs Revision of ISSAI 1610 Revision of ISSAI 1720. Progress to date. Awareness raising Sweden, Namibia participate in PSC project ISSAI seminar Estonia June 2011 Newsletter introduced.

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FAS update PSC Steering Committee meeting June 2011

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FAS update

PSC Steering Committee meeting June 2011


Progress to date

  • Maintain and develop the ISSAIs

    • Revision of ISSAI 1610

    • Revision of ISSAI 1720


Progress to date

  • Awareness raising

    • Sweden, Namibia participate in PSC project

    • ISSAI seminar Estonia June 2011

    • Newsletter introduced


Progress to date

  • Contribute to the consistency of ISSAIs

    • Sweden, UK and USA members of PSC project

  • Explore the need for other IAASB standards

    • Survey drafted, will be distributed in June

    • FAS meeting in October- decision


Progress to date

  • Summarize lesson learned

    • Not started

  • Monitor implementation

    • Survey planned 2012-2013


Implementation


Information from the IAASB

  • FAS Newsletter will provide information from recent and upcoming meetings

  • FAS Chair will consult with PSC members when appropiate


Information from the IAASB

  • Consultation papers

    • Enhancing the Value of Auditor Reporting: Exploring Options for Change, Consultation Paper due September, 16

    • Audit Quality: An IAASB Perspective


  • Exposure Drafts

    • ISAE 3000 Assurance Engagements Other Than Audits or Reviews of Historical Financial Information, due September, 1


Information from the IAASB

  • June Meeting

    • ISA 610

    • IAPS 1000 and status

    • ISRS 4410

    • ISA Implementation Monitoring


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